First Republic Bank (FRC) Earning Somewhat Favorable Press Coverage, Study Finds
News coverage about First Republic Bank (NYSE:FRC) has been trending somewhat positive recently, according to Accern. The research firm rates the sentiment of press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. First Republic Bank earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news articles about the bank an impact score of 46.3649575030551 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
- Moving Average Focus on First Republic Bank (FRC) Shares – Financial News Review (finnewsreview.com)
- First Republic Bank (FRC) noted a price change of 0.56% and Compania Cervecerias Unidas SA (CCU) closes with a … – Stocks Gallery (stocksgallery.com)
- Investor Watch: Indicator Review for First Republic Bank (FRC) – Wall Street Review (thewallstreetreview.com)
- Keen Investors Taking a Look at First Republic Bank (NYSE:FRC) and Magellan Midstream Partners, LP (NYSE:MMP) – FLBC News (flbcnews.com)
- 170 Firms Now Working with Gradifi to Offer a Student Loan Repayment Benefit to Their Employees (finance.yahoo.com)
Several brokerages recently commented on FRC. BidaskClub cut First Republic Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $109.00 price objective on shares of First Republic Bank in a research note on Friday, May 5th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 price objective on shares of First Republic Bank in a research note on Friday, July 14th. Maxim Group restated a “buy” rating and issued a $110.00 price objective (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded First Republic Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. First Republic Bank currently has an average rating of “Hold” and an average target price of $104.54.
Shares of First Republic Bank (FRC) traded down 0.01% during midday trading on Thursday, reaching $97.05. The company had a trading volume of 606,945 shares. First Republic Bank has a one year low of $72.40 and a one year high of $104.17. The firm has a market capitalization of $15.31 billion, a P/E ratio of 23.68 and a beta of 0.99. The company has a 50 day moving average price of $99.27 and a 200-day moving average price of $96.20.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, July 14th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.03. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same period in the previous year, the firm earned $0.97 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. On average, analysts anticipate that First Republic Bank will post $4.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, July 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. First Republic Bank’s payout ratio is 16.59%.
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First Republic Bank Company Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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